3 May 2017

BULLION OUTLOOK FOR 03-04 APRIL 2017

BUY GOLD @ 28600 SL 28800 TGT 28400-28300.

BUY SILVER @ 38600 SL 40000 TGT 38500-38400.

Gold:Gold trading range for the day is 28502-28686. Technically market is
getting support at 28542 and below same could see a test of 28502 level, And
resistance is now likely to be seen at 28634, a move above could see prices
testing 28686.Gold
price has given breakdown of its “Rising Channel” pattern at 29000 levels on a
daily chart. In addition, MCX Gold prices have been trading below 50 EMA on a
daily chart. The momentum indicator MACD has shown negative crossover on the a
daily chart. Therefore, we expect the Gold price to move lower towards 28300
levels.

R2

R1

S1

S2

TREND

GOLD

29000

28800

28600

28400

BULLISH

Silver:Silver
trading range for the day is 38734-39664. Technically market is getting support
at 38900 and below same could see a test of 38734 level, And resistance is now
likely to be seen at 39365, a move above could see prices testing 39664. On a
daily chart, Silver price has given breakdown if its rising trend line at 41750
levels. In addition, MCX Silver prices have been trading below 50 EMA on a
daily chart. The momentum indicator MACD has shown negative crossover on the a
daily chart. For now, we expect the price to move lower towards 38000 levels in
the coming trading sessions.